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Client won't pay - is a Statutory Payment or Small Claims Court a better choice?
So after many months happily freelancing I've finally had a client who won't pay. It's an £800 job, part of which are expenses so I'm actually out of pocket on this one. Client said they were happy with the finished products and going to pay but nothing. Multiple emails, phone calls etc. and no response. So to get my money…
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A Question about Limited Company Dividend Payments
Hi all, I have a question about how to pay myself in dividends as a limited company. I'm a little confused about how this is more tax efficient than just taking my income as a sole trader, hoping anyone can help clear that up for me. Background and my (presumably flawed) understanding of the setup with questions in bold:…
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My tax is getting a bit complicated
I've been registered self employed since 2002 and have run various businesses. Always as a sole trader and was pretty on the the ball with tax etc. However things have now got complicated. When covid hit, my clients all shut down (most in wedding industry). I claimed the first 3 SEISS payments but eventually I decided to…
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Income/Expenses tracker tips?
Hi everyone. I'm self-employed and anything to do with maths/numbers in general has never been my strong point to say the least! I know I need a way to keep track of my income and expenses, both for my business and personally, but I'm struggling to find a way that I can keep up with. All the apps I've seen are either far…
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Offsetting tax - sole trader business + PAYE job
Hi all, I have a full time PAYE salaried job, and have just started a small part time sole trader business, which doesn't make much money at the moment. If I were to make a profit loss one year from my sole trader business, can I offset the loss on the tax I pay on my PAYE job, and claim the tax back later from HMRC ?…
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Self employment mileage claim question....
Hi - I am thinking of becoming a self employed carer. Most of my work will be in a town 10 miles away. I wouldn't charge clients my travelling costs from home to their home but can I offset this cost against my profits (ie 20 miles per day at 45p a mile)? I've had a read of some of the guidance out there but still unclear.…
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Self Assessment
I used to be self employed a few years ago and completed self assessments so I have a self assessment utr. I became employed and didn't need to complete a self assessment. I'm looking to start doing some freelance work so I will need to do another self assessment, do I need to tell the tax man now that I'm doing freelance…
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Future courses
I am early on the journey to wanted to set up a small gardening business but i have made a start. I have recently passed my pesticide training and am now looking for more training that will help in the future for setting up.(Any suggestions on courses people have done that they thought was a big help, please let me know.)…
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Shed in garden for a workshop
I've been making stuff by hand to sell on in a shed (Self employed/sole trader). Recently upgraded it, basically used the base but the rest was new. Thought it would count as an asset and be treated as a capital allowance but apparently sheds in residential gardens don't count :'( Could I put the cost down as an expense as…
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Self Assessmewnt
I used to be self employed a few years ago and completed self assessments so I have a self assessment utr. I became employed and didn't need to complete a self assessment. I'm looking to start doing some freelance work so I will need to do another self assessment, do I need to tell the tax man now that I'm doing freelance…
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Advice on launching a new App
Hello. I am a single parent, with a dependant child, working part time on minimum wage. I have an idea that I belive would be really successful, it involves launching a new App. However, I do not have IT skill any higher than level 2 and therefor I am unable to design the App with out any professional help. Also, the…
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Returns policy for Jewellery
Hi :) I am in the midst of setting up an e-commerce Jewellery and Hair business. I am going to start with selling earrings and wanted to understand the rights consumers have. With the packaging, the earrings will be placed in cellophane bags that have a seal, then placed into an organza bag which will then be placed into a…
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business questions
Hi all, I am wanting to start a small gardening business, it is still in the planning stage and i have some obstacles to overcome before i take to leap (i.e passing my driving test). I have got a few questions to ask so sorry in advance. Firstly i am wanting to know if they would be any grants out there to get me started…
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Tax refund paid to accountant
This year I've been fortunate enough to qualify for a tax refund on both my business and personal accounts. When returns were submitted by my accountant, their bank details were entered for the repayments. The refunds are worth a few hundred quid, how long should I expect to wait before receiving the funds? Asking here as…
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New to Self Employment
Hey all, So I am new to this self employed thing and I have some questions that I know some on here will be able to help me out with! Question 1 - Tax I do work full time with an income of around £22k per year and I have started my own dog walking business to work around this job. I've got a spreadsheet and I am going to…
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Corporation Tax issues
DS1 has his Ltd Co registered at our address, because he was nomadic until a couple of years ago. We open his post and scan it for him. He has an accountant, and business is going well. However, over the last few months, there have been several letters from HMRC saying Corporation Tax is due. And DS1 has said - the…
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Lloyds business overdraft removal
My wife and I have a business account with £1k overdraft with Lloyds. Currently, the overdraft is maxed out. Recently we had a letter from Lloyds advising that the overdraft is up for review and to contact them asap. When we spoke to the advisor he said they will want to see our accounts. Due to the pandemic and IR35, the…
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trademark infringment
Hi,I have a business started in 2018, was LTD in 2019, been trademarked since 2020. Resently past 2 weeks another business has 100% copied by website and my trademark. I've tried emailing about 8 trademark compaines in the UK no one replies. 1 replied today saying they can send a C&D letter but want £1,200 which I think is…
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New Shop - Business Rates Question
Hello, I am due to be starting a small shop in Preston and would like to know do I need to apply to pay business rates or will this just happen automatically when I begin renting the shop unit? Also I believer there is a 50% retail discount in business rates. Is this correct? Is this something I would have to apply for or…
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Business account funds have been limited!
Has anyone else experienced this issue with their business account? Account funds have been removed because the bank wants you to complete a standard/routine form to update your account details - I hasten to add without informing you first? 7:30am this morning I see that my TSB business account balance is correctly just…
